In the wake of Ubiquiti's (UBNT) encouraging debut last week, ZELTIQ Aesthetics (ZLTQ) is scheduled to raise $105 million in the only deal on the IPO calendar this week. The medical technology company, which markets the CoolSculpting System for fat reduction in the hip area, has filed to offer 7 million shares (4% insider) at a range of $14 to $16 per share. ZELTIQ plans to list on the NASDAQ under the symbol "ZLTQ". J.P. Morgan and Goldman, Sachs & Co. are the lead managers on the deal, which is expected to price on Tuesday after the market close.
The CoolSculpting System is a non-invasive, 60-minute procedure that reduces stubborn fat bulges in the hip area using controlled cooling. Without causing damage to surrounding tissues, CoolSculpting lowers the temperature of fat cells in the treated area, causing them to die and eventually be absorbed by the body's immune system.
Read more about Zeltiq's business, risks and outlook.
If completed, ZELTIQ will be the second company to have an IPO pricing since the IPO market shutdown began in mid-August. Though ZELTIQ's large addressable market opportunity and growth prospects are strong selling points, its short track record boosts execution risk. The company's initial performance will be viewed as a barometer of the risk appetite of IPO investors and closely watched by other candidates planning to go public in the coming months.
Pre-IPO research available on ZELTIQ Aesthetics, this week's only IPO
October 17, 2011For information on how to obtain our complete Pre-IPO research with rating and valuation model on ZELTIQ, please contact Renaissance Capital.
